That Retail Property Guy
Welcome to That Retail Property Guy, the podcast where retail property expert Gary Marshall champions retail tenants and empowers professionals across the industry. With a career spanning decades, a dozen retailers, and millions in recovered losses for leading UK retailers, Gary shares his unparalleled knowledge to help retail tenants protect their rights, navigate leases, and maximise opportunities often overlooked by landlords, estates and accounts teams.
This podcast is your go-to resource for unlocking the mysteries of retail property. Whether you're an experienced professional, a mid-sized chain, or someone just starting in the industry, Gary’s insights will help you build confidence, avoid pitfalls, and thrive in this complex field.
Through practical advice, real-world examples, and interviews with industry leaders, That Retail Property Guy is dedicated to fostering development and knowledge-sharing for the next generation of retail property experts.
Listen weekly and discover how small insights can lead to big wins for retail tenants everywhere. Start your journey to retail property mastery today!
That Retail Property Guy
The Great Insurance Swindle: Hidden Costs for Tenant Occupiers
Navigating Insurance Obligations for Retail and Commercial Tenants
In this episode of 'That Retail Property Guy,' host Gary Marshall explores the often-overlooked complexities of insurance obligations within retail leases. He explains the typical insurance responsibilities that tenants face, including reinstatement, loss of rent, and terrorism coverage, and advises tenants to thoroughly review their lease agreements to be clear what the landlord is entitled to recharge, as well as the implications of clauses that label insurance as 'rent. The discussion also highlights the importance of diligent check-ups on apportionment and competitive pricing, and how tenants should protect themselves from potential pitfalls like overpaying premiums or hidden fees.
00:00 Retail Property Insights
00:20 The Dilemma of Insurance in Retail Leases
00:59 Understanding Insurance Obligations in Leases
03:08 Insurance Recharges and Rent: The Hidden Costs
04:16 VAT and Insurance Premium Tax Explained
06:56 Diving Deeper into Insurance Types – Reinstatement, Loss of Rent, Terrorism
09:09 Unfair Loading
11:56 Rent Cesser
13:29 Terrorism and Pool Re
15:02 Ensuring Fair Insurance Costs
16:06 Sharp practice and the Trocadero Case
18:39 The Importance of Reading Your Lease
19:04 Acts of God and Other Items
22:22 Conclusion and Further Resources
How RCA insurance valuations should be done, by RICS (the Royal Institution of Chartered Surveyors)
PoolRe insurance for terrorism
Shoosmiths article about that Trocadero case
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Go to ThatRetailPropertyGuy for more on Gary Marshall, Smarter Estates and the TRPG podcast. You can also check out the TRPG Blog for reading versions of key episodes.
For our niche 'Accounts Recoverable in Retail Property' business services, visit SmarterEstates
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